Click to apply for Balance Transfer in Mumbai
Balance Transfer in Mumbai by Indexia Finance
Indexia Finance offers convenient Balance Transfer services in Mumbai, bringing the right bank to your doorstep.
Balance Transfer for Your Loan
When was the last time you reviewed your home loan statement? Has the loan tenure increased since you signed up? Are you currently paying an interest rate exceeding 10.5% on your home loan?
Home Loan Balance Transfer in Mumbai
Many individuals are unaware that when floating interest rates increase, banks don’t raise Home Loan EMIs but extend the home loan tenure. If you’re facing an 11-12% interest rate on your home loan, Indexia Finance, a leading Home Balance Transfer provider in Mumbai, can help you save significantly. Home Loan Balance Transfer allows you to move your outstanding balance to a new bank, offering better terms, conditions, EMI, and potential savings that can be invested elsewhere.
Making Loans More Efficient
Customers often view Home Loan Balance Transfers in Mumbai as a way to enhance the efficiency of their loans. Floating interest rates may lead to longer tenures and higher EMIs. Home Loan Balance Transfers in Mumbai help customers transition from higher to lower interest rates or adjust loan components, such as top-ups.
Personal Loan Balance Transfer in Mumbai
For high-value personal loans, loans against property, and multiple loans from various sources, Personal Loan Balance Transfers in Mumbai offer a solution. With floating interest rates being standard for high-value loans, customers may maintain their original EMIs but end up with extended loan tenures. A personal loan balance transfer can assist customers in managing multiple loan products more effectively, potentially securing a more competitive interest rate.
Top-Up Your Home Loan & Personal Loan
Utilize the Balance Transfer facility to apply for a top-up on your Home Loans and Personal Loans whenever needed. This option allows you to meet personal requirements or consolidate loans from different banks into a single, larger loan with a more competitive interest rate. Top-up loans can fund various needs, including home furnishings, consumer durables, education expenses, weddings, family holidays, vehicle purchases, and consolidation of two active loans.
Eligibility for Balance Transfer in Mumbai
Home Loan and Personal Loan balance transfers have specific eligibility requirements familiar to those who have taken such loans. Click here to learn about the eligibility requirements for Home Loan Balance Transfers.
Required Documents for Balance Transfer in Mumbai
Balance Transfer for Home Loans & Personal Loans, like most other financial products, has fairly stringent documentation requirements. In order to help you understand the documents you need to keep handy before applying for a loan, we have compiled a list of items that can be of use to you.
The following documents are required for Balance Transfer in Mumbai by financial institutions to process a home loan balance transfer.
- Pan card
- Company ID card
- Residence proof
- Self-owned residence’s latest Electricity Bill / Landline Bill / Credit Card Bill
- Rented residence current rent agreement with the latest electricity of the flat, with a permanent residence proof
- Latest CTC
- Latest Salary slip for the last 3 months
- Till Date salary account statement and bank statement for the last 6 months
- Form No.16 – Latest
- Loan Repayment Track Records (if any)
- Forecloser Letter and List of Original Documents kept with the bank (These letters are to be obtained from the existing bank from where the loan is active. (Original letters obtained to be submitted.)
- Property Documents in case of Residential / Commercial premises
- Photocopies of all documents relating to the property to be mortgaged. (Original Documents will be collected at the time of disbursement)
Required Documents for Secured Loan and unsecured Loan Balance Transfers
Common Documents:
- 2 Photographs of each applicant & co-applicant
- Pan Card Copy each applicant & co-applicant
- Aadhaar card copy of the applicant & co-applicant
- Passport copy of each applicant & co-applicant
- Self Owned residence proof (latest month) of each applicant & co-applicant
- Utility Bill (Address proof) of office, if business profile
Income Documents:
In the case of Salaried:
- Copies of payslips for the last 6 months and TDS certificate
- Employment certificate from the employer
- The latest 2 years of Form 16 issued by the employer
- Last 12 months’ bank statement of salary account.
In the case of Self-employed:
- Pan card copy of Company
- MOA & AOA copy / Partnership Deed / For proprietorship firm – registration certificate or Business Proof (List of Directors/ Partners & Shareholder
- 3 years ITR, computation of income of the company, P&L, Balance sheet, +all Annexure & schedule, Dr. & Cr. List. (self & CA attested)
- The last 12 months’ bank statement of the company, and all the EMI reflections of any loans going on as per the Balance Sheet
- GST certificate copy
- Sanction letter of all Loans & OD/CC
- Sales & Purchase Summery – last 3 years (till date)
- & Cr. List – last 3 years (till date)
Additional Documents:
In the case of an Unsecured Loan:
- Loan Repayment Track Records
- Fore closer Letter of existing loan
In the case of a Secured Loan:
- Property documents (Registered deed, OC & share certificate)
- Loan Repayment Track Records
- Fore closer Letter and list of Original Documents kept with the bank (These letters are to be obtained from the existing bank from where the loan is active. (Original letters obtained to be submitted).
- Photocopies of all documents relating to the property to be mortgaged. (Original Documents will be collected at the time of disbursement).
Click for more details about Balance Transfer at www.indexiafinance.com/balance-transfer.
